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Newspaper
Mount Carmel Register
Location
Mount Carmel, Illinois, United States of America
Date
May 18, 2016
Page
6
University of Illinois economist Darrel Good notes wide price ranges since last summer for corn and soybeans with rallies driven by Argentine flooding, Brazilian drought, and a weaker dollar. Exports pace, USDA reports, and summer weather will shape near term moves with potential continued volatility through the season.
USDA announced 16.5 million in grants on May 3 to advance research on sustainable crop and livestock production amid pests and climate change. AFRI funds projects from breeding and genomics to plant and animal phenomics, with 2016 emphasis on pollinator health and food crop phenomics. applications due July 7, 2016.
Agriculture Secretary Tom Vilsack announced on May 3 the Open Prairie Rural Opportunities Fund, a privately run RBIC poised to invest up to 100 million in small food and agriculture businesses across rural America. The fund attracts support from Farm Credit System banks and strategic partners and focuses on the crop protection, production, processing, and data management sectors.
URBANA IL Soybean and corn prices rebound from recent lows with July 2016 soybean futures up 2 per bushel 23 percent and July 2016 corn futures up 35 cents 10 percent from late March to May 13. University of Illinois economist Darrel Good cites USDA WADSE reports reducing South American crops as price support. Exports for 2016-17 lifted with higher U S demand, soybean exports forecast at 1 885 billion bushels and Chinese imports rising to 3 2 billion bushels as domestic supply tightens.
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